Beauty and fashion publisher Refinery29 has named two new members to its executive team, part of a broader bid from the editorial title to reinvigorate its business following its sale to Sundial Media Group in April.
The new appointments include Akhil Bhansali, who will serve in the newly created position of chief financial officer, and Ashley Meade, an internal hire who has been elevated to the role of chief revenue officer.
Meade and Bhansali will both report to Cory Haik, who joined Refinery29 as CEO in April after overseeing the brand for five years in her previous role as chief operating officer at Vice Media.
Haik, Meade, Bhansali and the rest of the Refinery29 team are looking to revitalize the publisher after several challenging years under the ownership of Vice Media, which declared bankruptcy last May. Refinery29 is now part of the Sundial Media Group, which also owns Essence Ventures, a holding company that includes Essence and AfroPunk.
“Refinery29 has maintained its editorial authority over the last five years, but we’ve done that with one hand behind our back,” Haik said. “Now we’re going to be able to really double down.”
As part of this new strategy, Refinery29 plans to lean further into live events and video—lines of business that have proven fruitful for media companies throughout the ecosystem. It also plans to hire two new editors to oversee sports and current affairs coverage in a bid to deepen its authority in those spaces, according to Haik.
The expansions into video, events and sports reflect the shifting focus by news publishers away from their core web properties and into franchises, especially ones that can be monetized across multiple touch points online and in person.
Industrywide declines in web traffic, the threat of artificial intelligence and the eroding market for digital advertising have increasingly pushed editorial properties to reach their audiences on multiple fronts, diversifying their revenue streams and providing brands with opportunities for integrated marketing and sponsorships.
